TDS Credit Denial Due to Assessee’s Mistake is impermissible: ITAT  Ahmedabad

Kunvarji Fincorp Pvt Ltd Vs DCIT (ITAT  Ahmedabad) ITAT Ahmedabad, in the case of Kunvarji Fincorp Pvt. Ltd. Vs Deputy Commissioner of Income Tax held that denial of Tax Deducted at Source (TDS) credit due to the assessee’s mistake or misunderstanding is impermissible. The case emphasizes the importance of fairness and adherence to the statute when it comes to tax collection. The crux of the dispute was that Kunvarji Fincorp Pvt. Ltd., a Non-Banking Financial Company (NBFC), failed to claim a refund on the TDS credit while filing its income return. The assessee argued that this omission...